No significant changes in the cryptocurrency market in the last 7 days

Over the past 24 hours, the capitalization of the cryptocurrency market declined by $7 billion from $282 billion to $275 billion. The crypto market's capitalization is in the immediate vicinity of the annual minimum, recalling that capitalization reached a low at the beginning of April 2018 and amounted 252 billion dollars.

Over the past 24 hours, most of the major digital currencies, including bitcoin, fell by 1-2 percent, but did not show any significant changes in the technical picture in terms of further market prospects. During the last seven days, bitcoin is trading in a narrow range of $6200 - $6600, without taking active attempts to get out of consolidation on minimal volumes.

Bitcoin price has been falling from the level of $6640. Shortly before Wall-Street Monday's trading session starts, bitcoin is trading at $6395.

Currently, 50, 100 and 200 moving averages show that bears completely control the market; there are risks of further decline. If bitcoin falls below $6200 in the nearest trading sessions, the drop below the $6000 mark is inevitable. However, if cryptocurrency sees a sharp increase in volume and in the short term grows to $6600, then it can form a rally to the level of $7500.

There were unconfirmed rumors In South Korea that Bithumb, the world's largest cryptocurrency exchange, survived a hacker attack last weekend. It is likely to be reported in the near future whether the attempt was to successful or not.

FortFS